What Credit Means to you: from a Student to a Grown-Up
It is always talked about how important good credit is for everyone. You would be amazed how critical good credit is to you when looking at your life. To properly illustrate this, a trip will be taken down your potential life to see where credit can help you or trip you up.
When you graduate from college, you want to move to a new city and live on your own. If you have no credit whatsoever, you must have a co-signer who is willing to co-sign so that you can get a new apartment. If you have bad credit, this may result in being denied on getting the apartment you want to you may have to settle for an apartment in a less desirable part of town.
When you graduate from college, you may want a new car. If you have no credit or bad credit, you may also have the same problems as described in the previous paragraph. If you are approved but have only marginal credit, you may have to pay a higher interest rate such as 12-14% when many people with good credit can find great cars at dealerships and receive 0% or buy a used car and receive 6% from their bank. Do you want to pay 12-14% for your new car? It is less...